On June 30, 2021, when Ermler Co.'s stock was selling at $65 per share, its capital...

 

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On June 30, 2021, when Ermler Co.'s stock was selling at $65 per share, its capital accounts were as follows: Capital stock (par value $50; 60,000 shares issued) Premium on capital stock Retained earnings $3,000,000 600,000 4,200,000 If a 15% stock dividend were declared and distributed, prepare the required journál entry to record the approval and issuance of stock dividend. On June 30, 2021, when Ermler Co.'s stock was selling at $65 per share, its capital accounts were as follows: Capital stock (par value $50; 60,000 shares issued) Premium on capital stock Retained earnings $3,000,000 600,000 4,200,000 If a 15% stock dividend were declared and distributed, prepare the required journál entry to record the approval and issuance of stock dividend.

Answer rating: 100% (QA)

Transaction 1 2 Accounts Titles and Explanation Retained Earnings Capital Stock Dividend Distributa... View the full answer